Ben Bernanke wants to “End the Fed”?

Not exactly, though he did tell the Financial Crisis Inquiry Commission, which is looking at the 2008 financial crisis, “If the crisis has a single lesson, it is that the ‘too big to fail’ problem must be solved. Too-big-to-fail financial institutions were both a source … of the crisis and among the primary impediments to policymakers’ efforts to contain it,” Bernanke said. “We should not imagine … that it is possible to prevent all crises. To achieve both sustained growth and stability, we need to provide a framework which promotes the appropriate mix of prudence, risk-taking and innovation in our financial system.” He even commented that the FED should shutter financial institutions if they threaten to bring down the financial system. What financial institution threatens the system more than the Federal Reserve? I think Ben Bernanke alluded to ending the FED, or maybe my tinfoil hat is on too tight.

Read a transcript of Bernanke’s testimony
Watch Bernanke’s testimony